RY - Royal Bank of Canada

NYSE - NYSE Delayed Price. Currency in USD
81.31
+0.73 (+0.91%)
At close: 4:02PM EDT
Stock chart is not supported by your current browser
Previous Close80.58
Open80.62
Bid0.00 x 1000
Ask0.00 x 1000
Day's Range80.59 - 81.50
52 Week Range65.76 - 81.56
Volume1,236,330
Avg. Volume925,358
Market Cap116.336B
Beta (3Y Monthly)1.03
PE Ratio (TTM)12.94
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & Yield3.15 (3.91%)
Ex-Dividend Date2019-10-23
1y Target EstN/A
Trade prices are not sourced from all markets
  • Financial Times

    How the global bond rally lost its fizz

    A $1tn fall in the value of global bond markets this month is rekindling one of the biggest debates in finance: is the bull run in bonds finally coming to an end? For decades, the only way for bond prices has been up, reaching mind-boggling records in recent months.

  • Moody's

    Central Plains Energy Project, Gas Supply Revenue Refunding Bonds, Series 2019, $805MM -- Moody's assigns Aa2 to Central Plains Energy Project Gas Supply Revenue Refunding Bonds, Series 2019

    Moody's Investors Service has assigned a Aa2 rating to Central Plains Energy Project Gas Supply Revenue Refunding Bonds, Series 2019 (the Bonds). Hastings Utilities (the Municipal Participants) pursuant to gas supply contracts.

  • Deutsche Bank's (DB) Internal Control Under Scrutiny in U.S.
    Zacks

    Deutsche Bank's (DB) Internal Control Under Scrutiny in U.S.

    Deutsche Bank's (DB) involvement in persistent legal hassles and a low rate environment in the domestic economy are key concerns.

  • Deutsche Bank (DB) Continues Revamping, To Layoff Employees
    Zacks

    Deutsche Bank (DB) Continues Revamping, To Layoff Employees

    Deutsche Bank (DB) continues overhauling, which includes reducing dozens of employees in its global fixed-income unit, reports Bloomberg.

  • UBS & Banco do Brasil Likely to Strike Investment Banking JV
    Zacks

    UBS & Banco do Brasil Likely to Strike Investment Banking JV

    UBS Group (UBS) expects to benefit from Banco do Brasil's strong balance sheet position, and bolster foothold in Brazil through the deal.

  • Moody's

    Pierce County Economic Development Corporation, WA, Multi-Mode Variable Rate Demand Industrial Revenue Bonds (Frederico Enterprises I, LLC Project) Series 2010, $3.12MM -- Moody's upgrades to Aa2 from Aa3 Pierce County, WA LOC-backed (Frederico Enterprises I, LLC Project) Ser. 2010; VMIG 1 affirmed

    Moody's Investors Service has upgraded the long-term rating to Aa2 from Aa3 and affirmed the short-term VMIG 1 rating of the letter of credit- backed Economic Development Corporation of Pierce County Multi-Mode Variable Rate Demand Industrial Revenue Bonds (Frederico Enterprises I, LLC Project) Series 2010 (the Bonds) in connection with the substitution of the existing letter of credit from HSBC Bank USA, N.A. with the letter of credit (LOC) and confirming LOC (CLOC) provided by City National Bank (CNB) and Royal Bank of Canada (RBC), respectively to support the Bonds. The ratings are based upon (i) the CLOC provided by RBC, (ii) the structure and legal protections of the transaction which provide for timely payment of debt service and purchase price to bondholders, and (iii) Moody's evaluation of the credit quality of RBC.

  • Moody's

    Thunder Bay Funding LLC -- Moody's ABCP activity ending August 30, 2019

    At this time the addition, in and of itself, will not result in any change to the credit quality of the program's notes. The note is backed by a pool of revolving auto and equipment loans originated and serviced by an Australian asset finance company.

  • 7 of the Best Financial Stocks to Buy Now
    InvestorPlace

    7 of the Best Financial Stocks to Buy Now

    When the U.S. Federal Reserve ended its interest rate hiking cycle and started lowering rates instead, financial stocks drifted lower. With lower rates, banks earn fewer profits from the interest rate spread. Plus, rate cuts are usually done to stimulate a slowing economy. If banks rely on a healthy economy to get deals and drive more business, then we may expect profits to slow down.But there are several financial stocks to buy now that have the potential to bounce back higher as profit growth steadies.A few of these stocks to buy happen to be Canadian banks, which means there are a few important things to consider when investing in these stocks:InvestorPlace - Stock Market News, Stock Advice & Trading Tips * Even though they are listed on U.S. exchanges, a drop in the Canadian dollar against the U.S. dollar may hurt their stock price. * Investors may want to hold Canadian banks in a retirement account to avoid the 15% withholding tax. * The 10 Reasons to Buy Alibaba Stock With that out of the way, the here are the best financial stocks to own based on valuation, future growth prospects and dividend yield. Best Financial Stocks to Buy Now: Toronto-Dominion Bank (TD)Source: Bandersnatch / Shutterstock.com Toronto-Dominion Bank (NYSE:TD) reported third-quarter earnings on Aug. 29. It earned C$1.79 a share (non-GAAP) and GAAP earnings-per-share of C$1.74; meanwhinel, revenue rose 6.1% year-over-year to C$10.5 billion.TD has a healthy balance of exposure in Canadian and U.S. retail. Canadian Retail adjusted net income rose 3% from last year to C$1.92 billion. It benefited from both higher volumes and higher margins. Revenue from its wealth and insurance business also increased. Its U.S. Retail Bank adjusted net income grew 11% year-over-year to C$1.29 billion. TD Ameritrade performed very well as revenue grew 21% YoY.TD reported positive results in each of its segments because it continued to elevate the customer experience. It introduced solutions such as an international remittance tool. This lets its customers send money through Easy Web for a cash payout at over 500,000 Western Union (NYSE:WU) locations worldwide. Its discount brokerage benefited from a refreshed Learning Center. In its U.S. Retail bank unit, revenue grew due to strong loan and deposit growth, along with higher fee income.TD's net interest margin was 3.27%, down sequentially on lower deposit margins and balance sheet mix. It also posted a 12% sequential increase in credit card losses ($191 million). These numbers are not enough to alarm investors. Its Tier 1 ratio is 12%, consistent with the prior quarter. Overall, TD benefited from strong credit quality across its portfolios and expects continued growth ahead.TD shares have a dividend yielding 4.16% and a price-to-earnings ratio of 11.6X. Royal Bank of Canada (RY)Source: Shutterstock Royal Bank of Canada (NYSE:RY) reported non-GAAP EPS of C$2.26 and GAAP EPS of C$2.22. Net income grew 8% to C$1.609 billion. Revenue rose 4.6% YoY to C$11.54 billion.The company reported higher earnings in Personal and Commercial Banking and Wealth Management and Insurance. It benefited from higher average fee-based client assets, driven by market appreciation and net sales. Net interest income grew thanks to average volume growth. This was offset by lower earnings in Capital Markets and Investor and Treasury Services. Royal recorded an 8 bps increase in provisions for credit losses (PCL), due to higher provisions in Capital Markets. But its CET1 ratio is a healthy 11.9% and the company raised its dividend by 3% to $1.05 a share. Royal also faced higher costs in support of business growth and higher variable compensation.To further increase shareholder returns, Royal Bank announced that it bought back C$197 million in the quarter and 5.7 million shares year-to-date.Looking ahead, the bank's strong underlying credit quality from its Canadian residential portfolio should continue to lift results. Interests are likely to fall next month in the country, stimulating mortgage demand. In Q3, its total mortgage portfolio was C$256 billion. * 10 Mid-Cap Stocks to Buy Royal Bank trades at a P/E of 11.39 times earnings, while the stock offers a dividend yielding 4.21%. Bank of Montreal (BMO)Source: Rajiv Patel Via FlickrBank of Montreal (NYSE:BMO) fell hard in August ahead of its earnings report but finally found support at around $67. Even after a slight bounce, closing at $68.60, BMO stock trades at 9.7 times earnings. Its dividend yield is 4.55%. BMO reported non-GAAP EPS of C$2.36 and revenue growth of 4.5%, to C$5.78 billion. Despite reporting a higher provision for credit losses in the quarter, the market bid the stock higher after the quarterly report.Despite reporting higher provisions, its CEO expressed confidence for its overall credit quality in its portfolio. The higher provision is due to a few factors. First, higher Canadian consumer losses realized are due almost entirely to the implementation issues with a new consumer collections platform. Second, it took a single large loss from its Canadian commercial portfolio. And third, its performing loans (PCL) increased due to a modestly softer economic outlook.To improve its performance for the rest of the year, Bank of Montreal will look for efficiencies. As it works to lower its efficiency ratio down and delivering it through operating leverage, it aims to reach an efficiency target of 58% by 2021.In the fourth quarter, the bank is on track to deliver positive operating leverage. Expense growth will slow by half the rate of the first half of the year. JPMorgan Chase (JPM)Source: Bjorn Bakstad / Shutterstock.com JPMorgan Chase (NYSE:JPM) reported quarterly results on July 16, which sent JPM stock to a YTD high of around $116. But the stock fell slightly and closed recently at $109.22. Shares are valued at 11.12 times earnings and have a dividend yield of 3.3%.On Aug. 14, when the yield curve first inverted (the 10-year Treasury yield fell below the two-year Treasury rate), bank stocks sold off. Yet economic expectations are still strong and should limit any drop in JPM stock.In Q2 19, JPMorgan reported net income of $9.7 billion and EPS of $2.82. While total loans rose 2%, home lending average loans fell 7% YoY. Average deposits rose 4% YoY. The bank ended the quarter with a Standardized CET1 ratio of 12.2%. In the quarter, JPMorgan delivered strong capital returns by distributing $7.5 billion to shareholders. This includes a $5 billion stock buyback. * 10 Lithium Stocks to Buy Despite the Market's Irrationality JPMorgan's Consumer and Community Banking delivered $4.2 billion in net income, up 22% from last year. Higher net interest income and higher auto lease volumes drove these strong results. The strong credit performance across businesses and another quarter of positive operating leverage should continue for the rest of the year. The credit business benefits from credit costs of $1.1 billion, down 5% YoY. Charge-off rates of 8 basis points were favorable in the quarter and will continue to be so. Strong card loan growth and a good mortgage business suggest steady performance for the next few quarters. Banco Santander (SAN)Source: Mike Mozart via Flickr (Modified)Banco Santander (NYSE:SAN) looked as though it would hold the $4.60 - $5 range earlier this year. That range broke down when the stock fell last month and in August. SAN stock closed at $3.78 and has a P/E of 7.89X. Its dividend yield is 6.88%.In the second quarter, Santander reported strong sequential volume growth in loans (up 2%) and consumer funds (up 3%). Profits grew by 8%. Its loyal and digital customer base grew at an impressive double-digit growth. In Q2, profits of EUR 1.391 billion was affected by a EUR 706 million charge, mostly due to restructuring costs. For H1/2019, its underlying profit topped EUR 4,045 billion ($4.469 billion).Santander has a healthy profitability and solvency profile. CET1 was 11.3%, down 49 bps YTD due to regulatory effects and restructuring costs. With an enormous customer base and steady growth over the last year, Santander is one of the worst-performing financial stocks. Management is aware of the difficulty with growing revenue in mature markets. More competitors are coming to the market, so price reductions hurt profit growth. Still, it continues to increase its strategy of earning customer loyalty. And as it cuts costs by at least EUR 1 billion in Europe, profitability will grow.Banco Santander has a healthy balance sheet and continues to build its capital ratio. With lower costs and profit growth ahead, Santander stock should eventually find a bottom. Bank of America (BAC)Source: Tero Vesalainen / Shutterstock.com Bank of America (NYSE:BAC) showed a "double top" at $31 between May and the end of July on the charts. And for the rest of August, the stock slumped, bottoming in the $26 range and closing recently at $27.33. The stock has a P/E of 9.73X and a dividend yield of 2.63%. This U.S. bank is relatively cheaper compared to its peers.BAC reported earnings on July 17: GAAP EPS of 74 cents and revenue of $23.1 billion. Revenue grew 2%, but it is the return metrics that should impress investors. Return on average assets rose to 1.23%, up from 1.17% last year. The return on average common shareholders' equity topped 11.6%, up from 10.8%. Bank of America grew loans and leases by 4%. Average deposits increased $75 billion, up 6% YoY. Since Q2 18, client flows increased by $24 billion.BAC reported a CET1 of $171 billion and a CET1 ratio of 11.7%. To signal confidence in its business growth ahead, it raised its dividend by 20%. And when the book value per share rose 10% to $26.41, investors are clearly paying a very small premium for the business. * 7 Stocks to Buy In a Flat Market The market is overlooking the consistent performance of this bank. It delivered positive operating leverage for 18 consecutive quarters. So, growing consumer banking digital usage, increasing average deposits and higher loans and leases will lead to continued profit growth. Wells Fargo (WFC)Source: Ken Wolter / Shutterstock.com Wells Fargo (NYSE:WFC) is still in the dog house, years after it signed customers up for unwanted auto insurance and opening of accounts in customers' names. The stock is stuck in the $45 - $50 range, closing at $46.19 recently. At a P/E of 9.8X and with a dividend yielding 4.49%, investors may wait for the company to continue repairing its reputation. As it wins back customers, growth will come.Wells Fargo reported Q2 2019 net income of $6.2 billion and diluted EPS of $1.30. Its return of average tangible common equity (ROTCE) was 15.78%. Customer sentiment improved when a branch survey indicated the highest level of customer loyalty and "overall satisfaction with the most recent visit" in over three years. Loans and deposits grew from last year, debit and credit cards rose and credit card usage increased. The company returned $6.1 billion to shareholders through stock buybacks and stock dividends. And with its dividend at 45 cents a share, this is up 15% from last year.Wells Fargo expects that despite the Fed funds rate falling, consumer deposits will increase. Since deposits are very inexpensive to operate, it expects healthy benefits from higher deposits. It also has a promotional activity plan ready to attract deposits. Costs are always something the bank may work on lowering. As it prioritizes expense control without compromising risk controls, performance should improve.As of this writing, Chris Lau owned shares of Banco Santander. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Best Tech Stocks to Buy Right Now * 10 Mid-Cap Stocks to Buy * 8 Precious Metals Stocks to Mine For The post 7 of the Best Financial Stocks to Buy Now appeared first on InvestorPlace.

  • BSMX or RY: Which Is the Better Value Stock Right Now?
    Zacks

    BSMX or RY: Which Is the Better Value Stock Right Now?

    BSMX vs. RY: Which Stock Is the Better Value Option?

  • TD Bank, Royal Bank of Canada Face Fine for FX Malpractice
    Zacks

    TD Bank, Royal Bank of Canada Face Fine for FX Malpractice

    Toronto-Dominion Bank (TD) and Royal Bank of Canada (RY) face penalty of C$24.5 million for trading malpractice in foreign exchange transactions between 2011 and 2013.

  • RBC, TD Bank to pay C$24.5 million to settle forex trading charges: regulator
    Reuters

    RBC, TD Bank to pay C$24.5 million to settle forex trading charges: regulator

    Royal Bank of Canada and Toronto-Dominion Bank have agreed to pay a combined C$24.5 million ($18.5 million) to settle charges of foreign exchange trading malpractices brought against the Canadian banks by a regulator, following a settlement hearing held on Friday. In separate statements of allegations, the Ontario Securities Commission (OSC) said this week that TD and Royal Bank of Canada had failed to have sufficient supervision and controls in their foreign exchange trading businesses from at least 2011 to 2013. "The settlement will send a clear message to firms about the importance of promoting a culture of compliance," Cullen Price, Manager, Market Abuse Team, Enforcement at OSC said during TD's hearing.

  • Reuters

    UPDATE 1-RBC, TD Bank to pay C$24.5 mln to settle forex trading charges -regulator

    Royal Bank of Canada and Toronto-Dominion Bank have agreed to pay a combined C$24.5 million ($18.5 million) to settle charges of foreign exchange trading malpractices brought against the Canadian banks by a regulator, following a settlement hearing held on Friday. In separate statements of allegations, the Ontario Securities Commission (OSC) said this week that TD and Royal Bank of Canada had failed to have sufficient supervision and controls in their foreign exchange trading businesses from at least 2011 to 2013. "The settlement will send a clear message to firms about the importance of promoting a culture of compliance," Cullen Price, Manager, Market Abuse Team, Enforcement at OSC said during TD's hearing.

  • Toronto-Dominion (TD) Q3 Earnings Grow on Higher Revenues
    Zacks

    Toronto-Dominion (TD) Q3 Earnings Grow on Higher Revenues

    Improvement in revenues and strong balance sheet support Toronto-Dominion's (TD) fiscal Q3 earnings.

  • Moody's

    Pierce County Economic Development Corporation, WA, Multi-Mode Variable Rate Demand Industrial Revenue Bonds (Frederico Enterprises I, LLC Project) Series 2010, $3.12MM -- Moody's reviews LOC-backed EDC of Pierce County, WA, LOC-backed (Frederico Enterprises I, LLC Project) Series 2010

    Moody's Investors Service ("Moody's"), at the request of the borrower, has reviewed the documents submitted to us in connection with the issuance of an alternate letter of credit (LOC) and a confirming letter of credit (CLOC) to be provided by City National Bank and Royal Bank of Canada (RBC), respectively, in support of the Economic Development Corporation of Pierce County Multi-Mode Variable Rate Demand Industrial Revenue Bonds (Frederico Enterprises I, LLC Project) Series 2010 (the Bonds). The LOC and the CLOC will replace the letter of credit from HSBC Bank USA, N.A. currently supporting the Bonds.

  • Bank of Montreal (BMO) Down 3.8% Despite Q3 Earnings Rise
    Zacks

    Bank of Montreal (BMO) Down 3.8% Despite Q3 Earnings Rise

    Higher revenues, and decent loan and deposit growth support Bank of Montreal's (BMO) fiscal Q3 earnings. However, increase in credit costs is a headwind.

  • National Bank of Canada's (NTIOF) Q3 Earnings Increase Y/Y
    Zacks

    National Bank of Canada's (NTIOF) Q3 Earnings Increase Y/Y

    Higher interest income, fee revenues and a strong balance sheet position support National Bank of Canada's (NTIOF) fiscal Q3 earnings.

  • Scotia Bank's (BNS) Q3 Earnings Impressive, Costs Escalate
    Zacks

    Scotia Bank's (BNS) Q3 Earnings Impressive, Costs Escalate

    The Bank of Nova Scotia's (BNS) third-quarter fiscal 2019 (ended Jul 31) earnings reflect higher revenues, its solid capital levels and elevated expenses.

  • TD Bank, Royal Bank of Canada Accused of Trading Malpractice
    Zacks

    TD Bank, Royal Bank of Canada Accused of Trading Malpractice

    Toronto-Dominion Bank (TD) and Royal Bank of Canada (RY) accused of trading malpractice in foreign exchange transactions between 2011 and 2013.

  • Canadian regulator summons RBC, TD Bank over malpractice charges
    Reuters

    Canadian regulator summons RBC, TD Bank over malpractice charges

    Both banks face charges relating to allegations that their traders used confidential customer information to gain potential advantage in foreign exchange transactions that took place between 2011 and 2013, the regulator said. The hearing will be held on Friday at the commission's office in Toronto. The banks are accused of failing to have sufficient controls in their FX trading business during the three-year period, according to two separate 'statements of allegations' from the Ontario Securities Commission.

  • Moody's

    Plaza Trust -- Moody's Canadian ABCP activity for the week ended August 9, 2019

    Moody's has reviewed the following ABCP program in conjunction with the proposed amendment. At this time the amendment, in and of itself, will not result in any rating impact on the respective program's ABCP. Moody's does not believe it will have an adverse effect on the credit quality of the securities such that the Moody's rating is impacted.

  • RBC Pushes Efficiencies at Investment Bank Amid Trading Slump
    Bloomberg

    RBC Pushes Efficiencies at Investment Bank Amid Trading Slump

    (Bloomberg) -- Royal Bank of Canada is betting its efforts to keep a lid on costs and pull back on trading risk will counter a drop in revenue in its investment bank amid an industrywide slump.Revenue at RBC Capital Markets fell to C$2.03 billion ($1.53 billion) in the fiscal third quarter, down 5.7% from a year earlier and less than the second quarter’s C$2.17 billion. Investment-banking fees declined amid slowing stock sales and acquisition activity globally.“If fee pools and revenue pools are down, that is something that we are going to have to contend with by driving efficiencies, investing in technology and making sure that we continue to attract talented people,” Chief Financial Officer Rod Bolger said in a phone interview last week.Profitability within RBC Capital Markets is down, with return on equity of 11.1% in the quarter ended July 31, the second-lowest level in at least two years and the worst performance among Royal Bank’s major divisions. Meanwhile, its ratio of compensation to revenue was at 37.9% in the quarter, higher than the annual average over the past two years.The bank also is taking steps to reduce risks in its trading book. The average value at risk, a probabilistic measure of potential losses in a daily trading session, decreased to C$23 million from C$34 million at the end of April due to reduction of fixed-income inventories in the second quarter and lower market volatility in the first half of the year, a bank official said by email.RBC is further paring risks as more than $16.1 trillion of bonds trade with a negative yield, while stock prices remain fairly lofty, meaning investors have to decide which market is correctly assessing economic and geopolitical developments. Inverted government yield curves in several developed economies suggest the chances of recession are increasing, even as investors keep bidding for new corporate bonds at historically low coupons.While investment-banking fees are down this year, Royal Bank “has a strong investment-banking pipeline,” including a number of “marquee deals,” Bolger said. In terms of large deals RBC is expecting to handle in the next two quarters, the bank is in “much better shape than we were coming into this quarter,” Doug McGregor, head of RBC Capital Markets, told analysts last week.Also, Royal Bank’s trading desks in equities and fixed income outperformed the broader market in the first half -- something Bolger sees continuing.“Our expectation,” he said, “would be that we would perform at or above market going forward.”To contact the reporters on this story: Esteban Duarte in Toronto at eduarterubia@bloomberg.net;Doug Alexander in Toronto at dalexander3@bloomberg.netTo contact the editors responsible for this story: Nikolaj Gammeltoft at ngammeltoft@bloomberg.net, ;Michael J. Moore at mmoore55@bloomberg.net, ;David Scanlan at dscanlan@bloomberg.net, Daniel Taub, Steve DicksonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Canadian Imperial (CM) Up as Q3 Earnings & Revenues Rise
    Zacks

    Canadian Imperial (CM) Up as Q3 Earnings & Revenues Rise

    Higher interest income, fee revenues and a strong balance sheet position support Canadian Imperial's (CM) fiscal Q3 earnings.